Eaton plans to parlay acquisition of Swedish electrical manufacturer into increased presence in Nordic region
Eaton Corp., Cleveland, has acquired Gycom's electrical low-voltage power distribution, control and automation components business in Sweden, Denmark and Finland. The transaction will enable Eaton to serve Gycom's customers with Eaton's full range of power distribution products and services. Terms of the deal were not disclosed.
Frank Campbell, Eaton president, Europe, Middle East and Africa Region for the Electrical Sector, said in a press release, “Gycom has established strong relationships with key customers in the region. This acquisition is an effective way to expand our presence in the Nordic region.”
Headquartered in Taby, Stockholm County, Sweden, Gycom's low-voltage power distribution, control and automation business had 2011 sales of approximately $24 million.
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Jim Lucy Blog
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Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.